Ferrellgas Partners, L.p. · OTC:FGPR
Ferrellgas Partners, L.p — Investor Presentation (December 2020)
17 slides from Ferrellgas Partners, L.p's investor presentation, Dec 11, 2020
Slide 1: Project Fountain Confidential Overview Presentation November 2020
ProjectFountain Confidential OverviewPresentation November 2020
Slide 2: Disclaimer and Contact Information
Disclaimer and Contact Information DISCLAIMER This confidential overview presentation (this “Summary”) contains certain information pertaining to Ferrellgas, Inc. and Ferrellgas Partners, L.P. (collectively with their subsidiaries, the “Company”). The Company has engaged Moelis & Company LLC (“Moeli
Slide 3: Table of Contents
‘STRICTLY CONFIDENTIAL Table of Contents IL Executive Summary 4 Il. Business Overview 7 Ill, Strategic Initiatives and Upside Opportunities 13
Slide 4: Executive Summary
STRICTLY CONFIDENTIAL Executive Summary
Slide 5: Company Overview
Company Overview STRICTLY CONFIDENTIAL Company OverviewResidential Volumes ▪ The nation’s second-largest retail marketer1 and leading distributor of propane and related accessories to residential, industrial, and agricultural customers throughout the U.S. ▪ Founded in 1939 – 80th anniversary of oper
Slide 6: Investment Highlights
Investment Highlights STRICTLY CONFIDENTIAL 1 Leading, national footprint with extensive logistics assets and capabilities 2 Large, fragmented addressable market with growing market share 3 Stable cash flows with limited exposure to commodity prices 4 Strong, long-term relationship with both supplie
Slide 7: Business Overview
STRICTLY CONFIDENTIAL Business Overview
Slide 8: Brands & Products
Brands & Products Strong portfolio of brands in retail, wholesale and portable tank verticals PG 8 Source: Company filings, Company information
Slide 9: Differentiated Logistical Capabilities
Differentiated Logistical Capabilities Strong Logistics Network 1,510 630650 71 876 1,100 473 Leased Owned 220 160 359 579634627 190 70220271 90 141 1040 Vast, Strategically-Positioned Real Estate Portfolio •National footprint and strategic locations that are positioned in close proximity to custome
Slide 10: Customer Overview
Customer Overview STRICTLY CONFIDENTIAL Customer Acquisition StrategyProfile of Customer Types •Organically grew retail customer base at 8% CAGR since 2017 Type FY 2020A Volumes % FY 2020A Revenue No Commodity Price Exposure •Focus on increasing density of residential customers •Increase margins by
Slide 11: Large, Fragmented Addressable Market
STRICTLY CONFIDENTIAL Large, Fragmented Addressable Market Propane is an Attractive Clean Fuel with a Growing Market 2018 U.S. Heating Sources by Homes •Propane is a basic necessity to many customers for heating and agricultural purposes Heating Oil 4% Other 4% Propane Market Overview •It is a clean
Slide 12: Overview of Blue Rhino
Overview of Blue Rhino STRICTLY CONFIDENTIAL Blue Rhino Overview •Acquired by Ferrellgas in 2004 for a total consideration of $420 million •20-pound tanks used for grilling, patio heaters, and mosquito elimination devices; COVID-19 driving increase year round usage •Sold at ~59,500 tank exchange sel
Slide 13: Strategic Initiatives and Upside Opportunities
STRICTLY CONFIDENTIAL StrategicInitiativesand UpsideOpportunities PG 13
Slide 14: Returning to Strategic Leadership
Returning to Strategic Leadership STRICTLY CONFIDENTIAL Jim Ferrell Steve Wambold Jim Ferrell Adj. EBITDA CAGR: 10.0%Adj. EBITDA CAGR : 4.2% Adj. EBITDA CAGR: 6.6% ($mm) $345 $194 $170 $184 $174 $189 $216 $237 $222 $251 $266 $228 $193 $272 $288 $300 $219$228$230 $265 $122 12.7% 13.2% 16.4% 15.8% 13.
Slide 15: Operational Improvements Drive EBITDA
STRICTLY CONFIDENTIAL Operational Improvements Drive EBITDA Ferrellgas has identified 35 opportunities across 6 categories to achieve sustainable savings in excess of $40 million 1Delivery Efficiency 2Transportation Efficiency 3Pricing Performance 4Fleet Management 5Staffing Models 6Shared Services
Slide 16: Performance Through COVID-19
Performance Through COVID-19 x Granted “essential product” designation by the federal government to continue business operations and supply propane for customer needs, including cooking, heating, pandemic relief efforts and necessary construction •Increased residential demand also driven by national
Slide 17: Significant Acquisition Track Record with Proven Integration Capacities
Significant Acquisition Track Record with Proven Integration Capacities Key Acquisition TenetsM&A Track Record & Capabilities Identification of Strategic Targets •Fragmented market with many “mom-and-pop” companies •Target areas where Ferrellgas has excess fleet and storage capacity, creating signif
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